The Fiscal Responsibility Commission (FRC) has clarified during a session before the House of Representatives Committee on Finance that it did not insist on the Nigerian Security and Civil Defence Corps (NSCDC) having its annual financial and audited reports prepared exclusively by independent accounting and audit firms. FRC Chairman Victor Muruako addressed this matter during discussions on the Medium Term Expenditure Framework (MTEF).
The clarification came in response to reports suggesting that the NSCDC claimed it had the liberty to engage independent firms for these reports. Committee member Oluwole Oke questioned the rationale behind the FRC’s alleged insistence on external firms, especially considering the potential cost implications, when competent in-house workers could handle the task.
Chairman Muruako refuted the claim, stating that there was no such condition operational at the commission. He affirmed that the FRC would accept financial and audit statements from Ministries, Departments, and Agencies (MDAs) if prepared by relevant in-house workers, in alignment with the Act establishing the commission.
“As chairman of the FRC, I’m not aware of the commission insisting on independent accounting and audit firms preparing the financial statements of MDAs before they could be acted upon by the commission,” Muruako clarified.
Committee Chairman James Faleke suggested that the NSCDC review its licensing and yearly renewal fees for Private Guard Companies (PGCs) to bolster its revenue generation capacity, essential for implementing the 2024 budget. NSCDC’s Deputy Commandant-General Nwinyi Nwokuche provided insight, noting that there were approximately 1,300 registered PGCs in the country, with 400 located in Lagos.
Faleke emphasized the need for a comprehensive register of PGCs operating in the country, including their full addresses and historical license and renewal fee payments. Such information, he argued, would offer the committee valuable insights into the operations of these entities.
